Item 8.01. Other Events.
On October 21, 2022, Accelerate Diagnostics, Inc. (the "Company") announced it
has been in recent discussions with the U.S. Food and Drug Administration
("FDA") regarding its Accelerate Arc system and related BC Kit (collectively,
the "Accelerate Arc Products").
Pursuant to such discussions, the FDA has clarified that the Company must obtain
a 510(k) clearance in order to continue marketing and distributing the
Accelerate Arc Products in the United States. The Company had been listing the
Accelerate Arc Products as a Class I device exempt from 510(k) clearance
requirements. Additionally, the FDA requested that the Company promptly take
certain corrective actions, including, among other things, (i) discontinuing the
U.S. marketing and distribution of the Accelerate Arc Products for positive
blood culture processing and subsequent identification by mass spectrometry for
diagnostic use; (ii) removing and/or correcting all U.S. promotional information
within the Company's control (e.g., website, labeling, social media, sales
associate information, or other promotional material) regarding the diagnostic
use of the Accelerate Arc Products as Class I devices or as devices intended as
positive blood culture processing devices for subsequent identification of
microorganisms by mass spectrometry; and (iii) revising/removing the Company's
registration and listing of the Accelerate Arc Products as Class I devices.
The Company intends to continue to fully cooperate with the FDA, including
promptly taking the corrective actions requested by the FDA. On October 21,
2022, the Company also submitted a pre-submission package to the FDA, which is
intended to obtain FDA feedback regarding the Company's contemplated submission
of an application for 510(k) clearance for the Accelerate Arc Products. The
Company cannot, however, give any assurances that FDA will be satisfied with the
Company's actions taken in response to the matters raised by the FDA in its
discussions. The Company also cannot give any assurances as to the timing of the
FDA's response to the Company's pre-submission package or whether the Company
will be successful in obtaining 510(k) clearance for the Accelerate Arc
Products.
The Company will continue marketing and distributing the Accelerate Arc Products
in Europe pursuant to its existing CE In Vitro Diagnostic Regulation (IVDR)
registration.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 that involve
risks and uncertainties and reflect the Company's judgment as of the date of
this report. Such forward-looking statements include, but are not limited to,
statements relating to the Company's intention to continue to fully cooperate
with the FDA, including to promptly take the corrective actions requested by the
FDA; expectations and plans regarding 510(k) clearance for the Accelerate Arc
Products; and plans to continue marketing and distributing the Accelerate Arc
Products in Europe pursuant to its existing CE IVDR registration. Such
forward-looking statements involve risks and uncertainties that could cause
actual results to differ materially from predicted or expected results. The
inclusion of forward-looking statements should not be regarded as a
representation by the Company that any of these results will be achieved. Actual
results may differ from those set forth in this report due to the risks and
uncertainties described in the Company's filings with the U.S. Securities and
Exchange Commission (the "SEC"), including the Company's Annual Report on Form
10-K for the year ended December 31, 2021 and in the Company's subsequent
filings with the SEC. These forward-looking statements are made only as the date
hereof, and, except as required by law, the Company undertakes no obligation to
update or revise the forward-looking statements, whether as a result of new
information, future events or otherwise. All forward-looking statements are
qualified in their entirety by this cautionary statement.
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